Tariff-Quota Non-Equivalence In a Competitive General Equilibrium Framework (1997)
We construct a standard multi-sector, multi-factor general equilibrium model, with goods outnumbering factors to argue that in such a general structure, tariff and quota can have drastically...
We construct a standard multi-sector, multi-factor general equilibrium model, with goods outnumbering factors to argue that in such a general structure, tariff and quota can have drastically...
Uncertainty and the Optimal Production Tax
Optimal policies to restrict production under uncertainty for a large country which employs a time-consistent tariff are investigated. The Nash-Cournot assumption is used for domestic and foreign...
Why East Asian Countrie Grow Faster Than Others: A Recipe for Economic Growth
This paper reviews twelve factors that have positive or negative effects on economic growth, and two other variables that have ambiguous effects. Two-way causality, spurious causation, and missing...
Welfare Reducing Trade and Optimal Trade Policy
In contrast to some trade theorists' long-held beliefs, this study shows that free trade reduces the welfare of a small country with unemployment unless the free trade price of the importable falls...
Uncertainty, Price Stabilization, and Welfare
E. Kwan Choi, Stanley R. Johnson
This paper investigates whether a small country facing foreign price instability benefits from active stabilization of the domestic price of the importable. For example, the European Community can be...
Modeling the Demand for food Safety and the Implications for Regulation
The modern theory of demand which underlies much of economic analysis of consumer behavior is based on the premise that consumption goods are pure and do not involve risks. However, that is clearly...
Impacts and Incidence of Agricultural Commodity Programs
E. Kwan Choi, Stanley R. Johnson
This paper analyzes the incidence of agricultural commodity programs. Producers advocate commodity programs and receive price subsidies, but free entry and perfectly elastic supplies of nonland...
To Outsource or Not to Outsource in an Integrated World.
This paper investigates outsourcing decision under certainty and uncertainty. When the production activity can be fragmented into two or more processes, an integrated firm must be competitive in each...
Mixed Markets with Counterfeit Producers
This paper investigates a mixed market in which one or more producers of genuine brands compete with firms that produce counterfeit goods. The counterfeit product is assumed to be a good with...
No abstract
Consumer's Surplus and Price Uncertainty
Choi, E. Kwan, Johnson, Stanley R.
This paper investigates the conditions under which expected equivalent variation provides a correct ranking of stabilized and uncertain price situations. Expected equivalent variation can be...
Why East Asian Countries Grow Faster Than Others: A Recipe for Economic Growth.
This paper reviews twelve factors that have positive or negative effects on economic growth, and two other variables that have ambiguous effects. Two-way causality, spurious causation, and missing...
Modeling the Demand for Food Safety and the Implications for Regulation
http://www.econ.iastate.edu/research/publications/viewabstract.asp?pid=11245
Uncertainty and Split Nitrogen Application in Corn Production
Feinerman, E., Choi, E. Kwan, Johnson, Stanley R.
Investigates the split application of nitrogen for rainfed corn in the Midwest using two-stage decision model. Ex post analysis of late nitrogen application; Ex ante analysis of preplant nitrogen...
Trade and The Language War: Chinese and English
This paper investigates the effects on languages of trade between two economies inhabited by two distinct races using different languages. A country may have a comparative advantage in translation...
Optimal Trade Policies for a Developing Country under Uncertainty
This paper investigates optimal trade policies for a developing, small open economy that faces international price uncertainly. Trade taxes are used to finance provision of a public good, which...
Tariffication and Agricultural Trade
This paper considers the effects of tariffication-conversion of a variable import levy, widely used in the European Community, into an equivalent ad valorem tariff on trade and welfare. While tough...
Storage Subsidies and Supply Response
E. Kwan Choi, William H. Meyers
This paper investigates the supply response to a storage subsidy. From the ex post sales decision problem we derive the reservation price below which all risk averse farmers hold some inventory....
Stochastic Dominance and Uncertain Price Prospects
E. Kwan Choi, Stanley R. Johnson
This paper develops rules for ordering uncertain price prospects. For consumers with identical ordinal preferences, we propose stochastic dominance rules based on equivalent variation (EV). The...
Input Price Uncertainty and Factor Demand
A simple two-input and one-output model is used to examine the effects of variable input price uncertainty on a quasi-fixed factor. These theoretical results, applied to a livestock firm, indicate...
Factor Price Stabilization and the Competitive Firm
This paper investigates the effects of factor price stabilization on production decisions of the competitive firm with "ex post" production flexibility. Factor price stabilization is achieved through...
Demand Uncertainty and Price Stabilization
E. Kwan Choi, Stanley R. Johnson
Price stabilization is an important policy goal of government intervention in competitive markets. These policies are primarily directed at raising producer income and stabilizing market prices at...
Factor Accumulation and the Terms of Trade: Applications to the Asian Financial Crisis
This paper investigates the effects of population growth and capital accumulation on trade and welfare. In the absence of a terms of trade effect, an population increase reduces the standard of...
Aid allocation and the transfer paradox in a small country
This paper investigates long run consequences of international trade between two economies inhabited by two distinct races using different languages. If wages are not equal in autarky, free trade...
North-South Trade and Income Inequality
This paper investigates the effects of North-South trade on international income inequality. While empirical studies suggest that trade liberalization encourages income convergence and reduces the...
Infrastructure Aid, Deindustrialization and Urban Unemployment
Choi, E. Kwan, Choi, Jai-Young
This paper investigates the role of infrastructure aid to developing countries beset with unemployment. Since unemployment persists in most developing countries with chronic foreign debts, the impact...
Review of International Economics
Papers published in Review of International Economics
Uncertainty and the Effectiveness of Monetary and Fiscal Policies.
This paper integrates the decision making of a firm facing production uncertainty into the theory of aggregate supply. This integration has two important policy implications. First, if the aggregate...
FACTOR ACCUMULATION AND THE TERMS OF TRADE: APPLICATIONS TO THE ASIAN FINANCIAL CRISIS
This paper investigates the effects of population growth and capital accumulation on trade and welfare. In the absence of a terms of trade effect, an population increase reduces the standard of...
Optimal Trade Policies for a Small Open Economy.
This paper investigates optimal trade policies for a small open economy with unemployment. When factor prices are rigid, random foreign prices result in random unemployment of resources. The ranking...
On the Non-Equivalence of Tariff and Quota in a Competitive General Equilibrium Framework
We construct a standard multi-sector, multi-factor general equilibrium model, with goods outnumbering factors to argue that in such a general structure, tariff and quota can have drastically...
Trade and the Adoption of a Universal Language
This paper investigates long run consequences of international trade between two economies inhabited by two distinct races using different languages. If wages are not equal in autarky, free trade...
Transport Costs and Immiserizing Growth under Variable Returns to Scale
Casas, François R., Choi, E. Kwan
Lead Article. Abstract Currently Unavailable.
Optimal Trade Policy under Uncertainty: The Role of Risk Aversion and Public Goods
Lapan, Harvey E., Choi, E. Kwan
Abstract Currently Unavailable.
Trade Imbalance, the Factor Proportions Theory and the Resource Content of International Trade
Casas, François R., Choi, E. Kwan
Abstract Currently Unavailable.
The Leontief Paradox: Continued or Resolved?
Casas, François R., Choi, E. Kwan
Cited in Giancarlo Gandolfo's textbook, International Economics I: The Pure Theory of International Trade (Springer-Verlag), 1995. Abstract Currently Unavailable.
On the Magnitude of Relative Risk Aversion
Choi, E. Kwan, Menezes, Carmen F.
Abstract Currently Unavailable.
The Metzler Paradox and the Non-Equivalence of Tariffs and Quotas: Further Results
Casas, François R., Choi, E. Kwan
Abstract Currently Unavailable.
Some Paradoxes of Transport Costs in International Trade Theory
Casas, François R., Choi, E. Kwan
Lead Article. Cited in Giancarlo Gandolfo's textbook, International Economics I: The Pure Theory of International Trade (Springer-Verlag), 1995. Abstract Currently Unavailable.
A Theory of Price-Fixing Rings
Choi, E. Kwan, Menezes, Carmen F., Tressler, J.
Abstract Currently Unavailable.
Trade Imbalance and the Leontief Paradox
Casas, François R., Choi, E. Kwan
Cited in Giancarlo Gandolfo's textbook, International Economics I: The Pure Theory of International Trade Springer-Verlag), 1995. Abstract Currently Unavailable.
Agricultural Mechanization Policy and Rural Fertility
Choi, E. Kwan, Hicks, Whitney W.
Abstract Currently Unavailable.
Price Stabilization Theory: Issues for Red Meats in Canada
Choi, E. Kwan, Johnson, Stanley R.
Abstract Currently Unavailable.
Kazakhstan's Oil: Can We Get It Without Indigestion?
pp. 3, 4, 20. Abstract Currently Unavailable.
Implications of Many Industries in the Heckscher-Ohlin Model
This paper examines the implications of many industries on the Heckscher-Ohlin (HO) model. Available empirical studies suggest that output prices are interdependent. When output prices are...
Modeling the Demand for Food Safety and the Implications for Regulation
Choi, E. Kwan, Jensen, Helen H.
currently not available
Employment Risk and Optimal Trade Policies
Choi, E. Kwan, Beladi, Hamid, Chen, Jiong
This paper considers trade policies and welfare in a Harris-Todaro model with risk averse workers. Workers are assumed to have identical and homothetic preferences, but their incomes differ,...
Neighbor-Immiserizing Growth: The Asian Crisis
This paper investigates the effects of population growth and China’s entry into the world trading regime on the North and the South. In the absence of the terms of trade effect, population growth...
Implications of Many Industries on The Heckscher-Ohlin Model
This paper examines the implications of many industries on the Heckscher-Ohlin (HO) model. Available empirical studies suggest that output prices are interdependent. When output prices are...
TARIFFS VERSUS QUOTAS UNDER UNCERTAINTY: RESTRICTING IMPORTS AND THE ROLE OF PREFERENCE
This paper analyzes trade policies for a small country facing foreign price uncertainty and domestic production disturbances. The import-induced externality provides a rationale for trade...
TRANSPORT INNOVATION AND WELFARE UNDER VARIABLE RETURNS TO SCALE
FRANÇOIS R. CASAS, E. KWAN CHOI
Technological innovations improve the welfare of a country facing fixed terms of trade, but may lead to immiserization when the terms of trade are adversely affected. This paper establishes that...